Forex after market closed Sunday due to Greece elections
Oanda, which offers ‘after market’ trading will not accept trades this Sunday due to the potential for wild volatility as Greece election results come in. The ‘Forex’ market will open as usual Monday morning.
This is huge folks. I can’t remember a single instance of this occurring and I have been in the business since 1985. There are also rumors that the Central Banks will be doing something very big soon. Perhaps as early as this weekend depending on the way things go in Greece.
I suspect that if Greece votes to exit the European Community that there will be complete and total havoc in the markets, all of them-stocks, bonds, currencies, gold you name it and there will be some volatility. Only the very strongest will survive such swings in the market.
If we do see this sort of volatility I think you will see the Central Banks in Europe and the U.S. act ‘in concert’ to try and avert a major meltdown in the markets. Greece adopted capital controls last week to limit the amount of money the citizens can withdraw. I suspect that we will see this in Spain next, that is if we get to Tuesday without some catastrophic events occurring on Monday!
Be vigilant here, this could be a major swing point…in my opinion.